Building a Home

5% VAT on renovating unoccupied properties

If you're in the market for another Buy to Let flat or house, there are lots of reasons to steer well clear of unoccupied properties. It's especially true if they have been empty for a while or are in very bad shape. The time and expense of renovating a property will often take a good chunk out of your short term profits. That's why it pays to take a more long term view and consider the value you... Read more

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What does the VAT hike mean for landlords?

Today’s the day. VAT (value added tax) rose from 17.5% to 20% at midnight. The Chancellor George Osborne has indicated that the increase is entirely necessary to fund cuts in the deficit and he has also said he expects the change to be permanent. Economists have warned that the rise may well risk further rises in inflation. Opposition politicians have said it’s a regressive move that will hit... Read more

An old boiler

Fix your old boiler this summer

We bet that you haven’t thought about chestnuts roasting on an open fire for months. But as you slap on the factor 50 and enjoy these hazy days of summer, don’t forget (and we hate to puncture the mood) that winter is just a round the corner. And whilst it might well be the last thing on your mind, it’s worth thinking about the heating system in your rented property. Now is a good time... Read more

Treasury team

And in other Budget news…

Leaving aside the dog's breakfast that's just been made of the Housing Benefit system, landlords seem to have heaved a sigh of relief after yesterday's Budget, largely because expected hikes in capital gains tax were not as huge as expected. Higher rate tax payers will see CGT increased to 28%; for lower rate taxpayers, it remains at 18%. Victoria Whitlock, the Evening Standard's "accidental... Read more